Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"

chucky

DiggerUK wrote: »

Gordon Gekko was a fantasy character in a movie.
He ended up getting stuffed over.

DiggerUK, he say "Gold is Good" and won't end up getting stuffed over.

lunch is still for wimps though

DiggerUK

Really2 wrote: »

You mean long term, like house prices. I get ya;)

OK !!!!!!, show the evidence that illustrate how gold has trended down over time.
No need to go as far back as King Croesus of Lydia, any time in the last 500 years will do.

DiggerUK

tomterm8 wrote: »

.....goldbugs, even if they say things like 'gold has never trended down since records began... boosh!' while providing pretty charts dated from 1997 to the present.

OK !!!!!! 2, show the evidence.
For you I will make it even easier, go back over the last 400 years.

Really2

DiggerUK wrote: »

OK !!!!!!, show the evidence that illustrate how gold has trended down over time.
No need to go as far back as King Croesus of Lydia, any time in the last 500 years will do.

I don't need to but I can match your gold one with UK house prices if we talk long term

StevieJ

kabayiri wrote: »

What annoys me is people poo-pooing someone's personal choice to buy gold. We know the risks, and we make our choices accordingly.

It is not the personal choice it is the obvious hyping. I for one wouldn't like to be giving fellow posters 'can't lose' advice about what is an obvious risky asset at the top of its price range, it may go up it may go down.

DiggerUK

StevieJ wrote: »

Gold price ave 1980 (shortly after Tories last came back into power) $615 In fact I think a high of $850 was recorded :eek:
Gold price ave 1997 (Tories leave power) $331.......

This is the UK, we buy and sell gold in pounds sterling, not USD.
The price spike of Jan 20th 1980 sent gold to a high of 370GBP per oz.
Go back 1 year prior and it was down as low as 120GBP, within 1 year after the spike it was down to 220GBP.

If you had bought 1 ounce on the day of the spike in 1980, and then 1 ounce at each anniversary it would have cost an average of less than 260 GBP per ounce. Even if price goes back to 700GBP from todays high of 750 GBP, the result would still be happiness for the one with gold.

StevieJ

DiggerUK wrote: »

OK !!!!!!, show the evidence that illustrate how gold has trended down over time.
No need to go as far back as King Croesus of Lydia, any time in the last 500 years will do.

I suppose it depends where you start and finish,

In January 2008, 28 years after the all-time record high of price of $850 in January 1980, the nominal broke the record. In inflation adjusted US dollars, the price would have to reach about $2,200 to break the record in real terms.

StevieJ

DiggerUK wrote: »

This is the UK, we buy and sell gold in pounds sterling, not USD.
.

Ah so this is as much a USD play as gold because gold is priced in USD, interesting.

DiggerUK

Really2 wrote: »

I don't need to but I can match your gold one with UK house prices if we talk long term

There are people who compare the price of bread 'n olives in Casers Rome to a modern Waitrose.
Comparing the price of a 16th century hovel, with a "Stunning Contemporary Abode" seems just as futile.

Each to their own though.

chucky

Really2 wrote: »

You mean long term, like house prices. I get ya;)

UK house prices if priced in Gold are at 1997 levels....

is Gold expensive or are houses prices currently cheap

it looks like property is cheap and Gold is expensive to me... :eek: